Manufacturing as driver of economic growth

Igor Lopes Rocha


This study combines different theoretical strands on development regarding the importance of the manufacturing industry for economic growth. Through a confluence of the Keynesian-Kaldorian, structuralist and neo-Schumpeterian frameworks, the paper argues that the manufacturing industry presents some special properties, which are not found in other sectors. The first section describes Anglo-Saxon structuralism, focused on structural change dynamics, and the Latin American structuralist view of underdevelopment, according to which economic development results from technical progress induced or enabled by capital accumulation. The second section examines the Kaldorian approach to growth, understood as “laws”, where Kaldor explains the differences in international growth rates recovering important elements in the contemporaneous debate. The third section investigates the neo-Schumpeterian route to development, exploring relations between innovation, economic dynamics and catching-up in a sectoral specific approach.

JEL Code: B10, E12, O1, O14


Keynesian-Kaldorian, Structuralist, Neo-Schumpeterian, Development, Manufacturing

Full Text:



Abramovitz M. (1986), “Catching-up, Forging Ahead, and Falling Behind”, Journal of Economic History, 46 (2), pp. 385-406.

Aghion P. and Howitt P. (1998), Endogenous Growth Theory, Cambridge (MA): MIT Press.

Albuquerque E.M. (1999), “National System of Innovation and Non-OECD Countries: Notes about a Rudimentary and Tentative ‘Typology’”, Brazilian Journal of Political Economy, 19 (4), pp. 35-52.

Ancochea D.S. (2007), “Anglo-Saxon Structuralism vs. Latin American Structuralism in Development Economics”, in E. Pérez Caldentey and M. Vernengo (eds.), Ideas, Policies and Economic Development in the Americas (pp. 208-226), Abingdon and New York: Routledge.

Angeriz A., McCombie J.S.L. and Roberts R. (2009), “Increasing Returns and the Growth of Industries in the EU Regions: Paradoxes and Conundrums”, Spatial Economic Analysis, 4 (2), pp. 127-148.

Araujo R.A. and Lima G.T. (2007), “A Structural Economic Dynamics Approach to Balance-of-Payments-Constrained Growth”, Cambridge Journal of Economics, 31 (5), pp. 755-774.

Arrow K.J. (1962), “The Economic Implications of Learning by Doing”, Review of Economic Studies, 29 (3), pp. 155-173.

Baghirathan R., Rada C. and Taylor L. (2004), “Structuralist Economics: Worldly Philosophers, Models, and Methodology”, Social Research: An International Quarterly, 71 (2), pp. 305-326.

Barro R. and Sala-i-Martin X. (2004), Economic Growth, 2nd ed., London (UK) and Cambridge (MA): Mit Press.

Berger S. (2011), “Why Manufacturing Matters”, MIT Technology Review, 1-2, available at:

Bernat G.A. (1996), “Does Manufacturing Matter? A Spatial Econometric View of Kaldor’s Laws”, Journal of Regional Science, 36 (3), pp. 463-477.

Bielschowsky R. (1998), “Cincuenta años del pensamiento de la CEPAL: una reseña”, in Cincuenta años del pensamiento de la CEPAL: textos seleccionados, vol. 1 (pp. 9-61), Santiago: Economic Commission for Latin America and the Caribbean (ECLAC)/Fondo de Cultura Económica.

Bielschowsky R. (2009), “Sixty Years of ECLAC: Structuralism and Neo-Structuralism”, CEPAL Review, 97, pp. 171-192.

Blankenburg S. (2000), “Knowledge, Economic Growth and the Role of Policy”, ESRC Working Paper, no. 185, ESRC Centre for Business Research, Department of Applied Economics, University of Cambridge, available at:

Blankenburg S. (2004), “Knowledge in the ‘New Endogenous Growth Theory’: A Factor of Production, a Good and an Externality”, PhD thesis, Cambridge University.

Blankenburg S., Palma J.G. and Tregenna F. (2008), “Structuralism”, in Durlauf S.N. and Blume L.E. (eds.), The New Palgrave Dictionary of Economics, 2nd ed., vol. 8 (pp. 69-74), Basingstoke: Palgrave Macmillan.

Carneiro R. (2008), “Impasses do desenvolvimento brasileiro: a questão produtiva”, Texto para Discussão IE/UNICAMP, no. 153, Campinas, available at:

Cassiolato J.E. and Lastres H.M.M. (2008), “Discussing Innovation and Development: Converging Points between the Latin American School and the Innovation Systems Perspective?”, Globelics Working Paper Series, no. 2008-02, The Global Network for Economics of Learning, Innovation, and Competence Building System, Aalborg University, Denmark, available at:

CECIMO – European Association of the Machine Tool Industry (2011), Study on Competitiveness of the European Machine Tool Industry, Brussels: CECIMO, available at: /Studies_and_Reports/Study_on_Competitiveness_of_the_European_Machine_Tool_Industry_-_December _2011 .pdf

Chang H.-J. (2012), “The Manufacturing Sector and the Future of Malaysia”s Economic Development”, Jurnal Pengurusan, 35, pp. 3-12.

Chang H.-J. (2014), Economics: The User’s Guide, London: Penguin.

Chang H.-J., Andreoni A. and Kuan M.L. (2013), “International Industrial Policy Experiences and the Lessons for the UK”, Future of Manufacturing Project Evidence Paper, no. 4, London: Foresight, UK Government Office of Science, available at: /277162/ep4-international-industrial-policy-experiences.pdf

Chenery H.B. (1960), “Patterns of Industrial Growth”, American Economic Review, 50 (4), pp. 624-654.

Chenery H.B. (1975), “The Structuralist Approach to Development Policy”, American Economic Review, 65 (2), pp. 310-316.

Chenery H.B. (1979), Structural Change and Development Policy, New York: Oxford University Press.

Cimoli M., Porcile G. and Rovira S. (2010), “Structural Change and the BOP Constraint: Why Did Latin America Fail to Converge?”, Cambridge Journal of Economics, 34 (2), pp. 389-411.

Cornwall J. (1976), “Diffusion, Convergence and Kaldor’s Laws”, Economic Journal, 86 (342), pp. 307-314.

Cornwall J. (1977), Modern Capitalism. Its Growth and Transformation, New York: St. Martin’s Press.

Coutts K. and Rowthorn R. (2013), “Update of Prospects for the UK Balance of Payments”, Future of Manufacturing Project Evidence Paper, no. 30, London: Foresight, UK Government Office of Science, available at:

Dahmén E. (1987), “Development Blocks in Industrial Economics”, Scandinavian Economic History Review, 36 (1), pp. 3-14.

Dasgupta S. and Singh A. (2006), “Manufacturing, Services and Premature Deindustrialization in Developing Countries: A Kaldorian Analysis”, UNU-WIDER Working Papers, no. RP2006/49, Helsinki: United Nations University – World Institute for Development Economics Research, available at:

Dixon R. and Thirlwall A.P. (1975), “A Model of Regional Growth-Rate Differences on Kaldorian Lines”, Oxford Economic Papers, 27 (2), pp. 201-214.

Dixon R. and Thirlwall A.P. (1979), “A Model of Export-Led Growth with a Balance of Payments Constraint”, in Bowers J. (ed.), Inflation, Development and Integration: Essays in Honour of A.J. Brown (pp. 173-192), Leeds: Leeds University Press.

Dosi G., Pavitt K., and Soete L. (1990), The Economics of Technological Change and International Trade, Brighton: Wheatsheaf.

Dosi G., Fabiani S and Freeman C. (1994), “The Process of Economic Development: Introducing Some Stylized Facts and Theories on Technologies, Firms and Institutions”, Industrial and Corporate Change, 3 (1), pp. 1-45.

European Commission (2010), An Integrated Industrial Policy for the Globalisation Era. Putting Competitiveness and Sustainability at Centre Stage, Brussels: European Commission.

Ezell S.J. and Atkinson R.D. (2011), The Case for a National Manufacturing Strategy, Washington (DC): ITIF – Information Technology and Innovation Foundation, available at:

Fagerberg J. (1988a), “International Competitiveness”, Economic Journal, 98 (391), pp. 355-374.

Fagerberg J. (1988b), “Why Growth Rates Differ”, in Dosi G., Freeman C., Nelson R., Silverberg G. and Soete L. (eds.), Technical Change and Economic Theory (pp. 432-457). London: Pinter.

Fagerberg J. (1994), “Technology and International Differences in Growth Rates”, Journal of Economic Literature, 32 (3), pp. 1147-1175.

Fagerberg J. and Verspagen B. (1999), “Modern Capitalism in the 1970s and 1980s”, in Setterfield M. (ed.), Growth, Employment and Inflation (pp. 113-126), Basingstoke: Palgrave Macmillan.

Fajnzylber F. (1983), La industrialización trunca de América Latina, México, D.F.: Editorial Nueva Imagen.

Fingleton B. and McCombie J.S.L. (1998), “Increasing Returns and Economic Growth: Some Evidence for Manufacturing from the European Union Regions”, Oxford Economic Papers, 50 (1), pp. 89-105.

Frankel M. (1962), “The Production Function in Allocation and Growth: A Synthesis”, American Economic Review, 52 (5), pp. 995-1022.

Freeman C. (1982a), The Economics of Industrial Innovation, 2nd ed., Cambridge (MA): MIT Press.

Freeman C. (1982b), “Technological Infrastructure and International Competitiveness”, Industrial and Corporate Change, 13 (3), pp. 541-569.

Freeman C. (1995), “The National System of Innovation in Historical Perspective”, Cambridge Journal of Economics, 19 (1), pp. 5-24.

Freeman C. (2004), “The National System of Innovation in Historical Perspective”, Revista Brasileira de Inovação, 3 (1), pp. 9-34.

Freeman C. and Soete L. (1997), The Economics of Industrial Innovation, Cambridge (MA): MIT Press.

Furtado C. (1959), Formação econômica do Brasil: edição comemorativa-50 anos, São Paulo: Companhia da Letras.

Furtado C. (1961), Desenvolvimento e subdesenvolvimento, Rio de Janeiro: Fundo de Cultura.

Furtado C. (1964), Dialética do desenvolvimento, Rio de Janeiro: Fundo de Cultura.

Furtado C. (1967), Teoria e política do desenvolvimento econômico, São Paulo: Abril Cultura.

Furtado C. (1995), Retour à la vision globale de Perroux et Prebisch, Grenoble: Presse Universitaires Grenoble.

Gibson B. (2003), “An Essay on Late Structuralism”, in Dutt A. and Ros J. (eds.), Development Economics and Structuralist Macroeconomics: Essays in Honor of Lance Taylor (pp. 52-76), Cheltenham, UK: Edward Elgar.

Gildemeister Aktiengesellschaft (2011), Annual Report and Financial Statements 2010, Bielefeld (DE): Gildemeister.

Gouvêa R.R. and Lima G.T. (2010), “Structural Change, Balance-of-Payments Constraint, and Economic Growth: Evidence from the Multisectoral Thirlwall’s Law”, Journal of Post-Keynesian Economics, 33 (1), pp. 169-204.

Gouvêa R.R. and Lima G.T. (2013), “Balance-of-Payments-Constrained Growth in a Multisectoral Framework: A Panel Data Investigation”, Journal of Economic Studies, 40 (2), pp. 240-254.

Grossman G.M. and Helpman E. (1991), Innovation and Growth in the Global Economy, Cambridge (MA): MIT Press.

Guerrieri P. and Meliciani V. (2005), “Technology and International Competitiveness: The Interdependence between Manufacturing and Producer Services”, Structural Change and Economic Dynamics, 16 (44), pp. 489-502.

Hansen J.D. and Zhang J. (1996), “A Kaldorian Approach to Regional Economic Growth in China”, Applied Economics, 28 (6), pp. 679-685.

Harris R.I.D. and Lau E. (1998), “Verdoorn”s Law and Increasing Returns to Scale in the UK Regions, 1968-91: Some New Estimates Based on the Cointegration Approach”, Oxford Economic Papers, 50 (2), pp. 201-219.

Harrod R.F. (1933), International Economics, London: Nisbet and Cambridge: Cambridge University Press.

Hildreth A. (1989), “The Ambiguity of Verdoorn’s Law: A Case Study of the British Regions”, Journal of Post Keynesian Economics, 11 (2), pp. 279-94.

Hirschman A.O. (1958), The Strategy of Economic Development, New Haven, Conn: Yale University Press.

Hirschman A.O. (1981), Essays in Trespassing: Economics to Politics and Beyond, New York: Cambridge University Press.

Hirschman A.O. (1987), “Linkages”, in Eatwell J., Milgate M. and Newman P. (eds.), The New Palgrave: A Dictionary of Economics, vol. 3 (pp. 206-211), London and Basingstoke: Macmillan.

Ho P.S. (2004), “Myrdal’s Backwash and Spread Effects in Classical Economics: Implications for Multilateral Trade Negotiations”, Journal of Economics Issues, 38 (2), pp. 537-544.

Jackson W.A. (2003), “Social Structure in Economic Theory”, Journal of Economic Issues, 37 (3), pp. 727-746.

Jayme F.G. and Resende M.F.C. (2009), “Crescimento econômico e restrição externa: teoria e a experiência brasileira”, in Michel R. and Carvalho L. (eds.), Crescimento econômico: setor externo e inflação (pp. 9-36), Rio de Janeiro: IPEA.

Kaldor N. (1966), Causes of the Slow Rate of Economic Growth of the United Kingdom: An Inaugural Lecture, Cambridge: Cambridge University Press.

Kaldor N. (1967), Strategic Factors in Economic Development, New York: Ithaca.

Kaldor N. (1970), “The Case for Regional Policies”, Scottish Journal of Political Economy, 17 (3), pp. 337-348.

Kaldor N. (1972), “The Irrelevance of Equilibrium Economics”, Economic Journal, 82 (328), pp. 1237-1255.

Kaldor N. (1981), “The Role of Increasing Returns, Technical Progress and Cumulative Causation in the Theory of International Trade and Economic Growth”, Economie Appliquée, 34 (6), pp. 593-617.

Kaldor N. (1986), “Limits on Growth”, Oxford Economic Papers, 38 (2), pp. 187-198.

Kay C. (1989), Latin American Theories of Development and Underdevelopment, London and New York: Routledge.

Keynes J.M. (1926), The End of Laissez-Faire, vol. 16, London: Hogarth Press.

Kim L. (1997), Imitation to Innovation: The Dynamics of Korea’s Technological Learning, Cambridge (MA): Harvard Business Review Press.

Kincaid H. (2008), “Individualism versus Holism”, in Durlauf S.N. and Blume L.E. (eds.), The New Palgrave Dictionary of Economics, Basingstoke: Palgrave Macmillan.

Knell M. (2004), “Structural Change and the Kaldor-Verdoorn Law in the 1990s”, Revenue d’economie industrielle, 105, pp. 71-83.

Laplane M. and Sarti F. (1997), “Investimento Direto Estrangeiro e a retomada do crescimento sustentado nos anos 90”, Economia e Sociedade, 8, pp.143-182.

Lastres H.M.M, Cassiolato J.E. and Maciel M.L. (2003), “Systems of Innovation for development in the knowledge era: An Introduction”, in Cassiolato J.E., Lastres H.M.M. and Maciel M.L. (eds.), Systems of Innovation and Development: Evidence from Brazil (pp. 1-33), Cheltenham (UK): Edward Elgar.

Lewis W.A. (1954), “Economic Development with Unlimited Supplies of Labour”, as reprinted in Agarwala A.N. and Singh S.P. (eds.) (1958), The Economics of Underdevelopment (pp. 400-449), Oxford: Oxford University Press.

Libanio G. (2006), “Three Essays on Aggregate Demand and Growth”, PhD Thesis, University of Notre Dame.

Lodefalk M. (2010), “Servicification of Manufacturing-Evidence from Swedish Firm and Enterprise Group Level Data”, Working Paper, no. 3/2010, Örebro University, Swedish Business School, available at:

Love J.L. (1995), “Economic Ideas and Ideologies in Latin America since 1930”, in Bethell L. (ed.), The Cambridge History of Latin America, Vol. 6: Latin America since 1930, Part 1: Economy and Society (pp. 391-460), Cambridge: Cambridge University Press.

Love J.L. (1996), “Las fuentes del estructuralismo latinoamericano”, Desarrollo Económico, 36 (141), pp. 391-402.

Love J.L. (2005), “The Rise and Decline of Economic Structuralism in Latin America: New Dimensions” Latin American Research Review, 40 (3), pp. 100-125.

Lucas R.E. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22, pp. 3-42.

Lundvall B.-Å. (1992), National Systems of Innovation: Towards a Theory of Innovation and Interactive Learning, London: Pinter Publishers.

Lundvall B.-Å., Johnson B., Andersen E.S. and Dalum B. (2002), “National Systems of Production, Innovation and Competence Building”, Research Policy, 31 (2), pp. 213-231.

Magacho G.R., Rocha I.L. and Marconi N. (2014), “Do Primary Sectors Promote Economic Growth? An Input-Output Analysis Contrasting Brazil and the Other BRICs”, Paper Presented at 40th Annual Conference of the Eastern Economic Association (EEA), Boston (MA), March 6-9.

Mamgain V. (1999), “Are the Kaldor-Verdoorn Laws Applicable in the Newly Industrializing Countries?”, Review of Development Economics, 3 (3), pp. 295-309.

Marshall A. (1920), Principles of Economics, 8th edition, London: Macmillan.

Mazzucato M. (2013), The Entrepreneurial State: Debunking Public vs. Private Sector Myths, London: Anthem Press.

McCarthy I. and Anagnostou A. (2004), “The Impact of Outsourcing on the Transaction Costs and Boundaries of Manufacturing”, International Journal of Production Economics, 88, pp. 61-71.

McCombie J.S.L. and De Ridder J. (1983), “Increasing Returns, Productivity and Output Growth: The Case of the United States”, Journal of Post Keynesian Economics, 5 (3), pp. 373-387.

McCombie J.S.L. and Thirlwall A.P. (1994), Economic Growth and the Balance-of-Payments Constraints, New York: ST. Martin’s Press.

McKinsey Global Institute (2012), Manufacturing the Future: The Next Era of Global Growth and Innovation, McKinsey Global Institute, November.

Myrdal G. (1957), Economic Theory and Underdeveloped Regions, New York: Harper and Row.

Nelson R.R. (1993), National Innovation Systems: A Comparative Analysis, New York, Oxford: Oxford University Press.

Nelson R.R. (1996), The Sources of Economic Growth, Cambridge (MA): Harvard University Press.

Nelson R.R. and Pack H. (1999), “The Asian Miracle and Modern Growth Theory”, Economic Journal, 109 (457), pp. 416-436.

Nelson R.R. and Winter S.G (2002), “Evolutionary Theorizing in Economics”, Journal of Economic Perspectives, 16 (2), pp. 23-46.

Nelson R.R. and Winter S.G. (1982), An Evolutionary Theory of Economic Change, Cambridge (MA): Harvard University Press.

Nordås H.K. and Kim Y. (2013), “The Role of Services for Competitiveness in Manufacturing”, OECD Trade Policy Papers, no. 148, Paris: OECD Publishing.

Nurkse R. (1953), Problems of Capital Formation in Underdeveloped Countries, Oxford: Oxford University Press.

O’Sullivan E. and Mitchell N. (2013), “International Approaches to Understanding the Future of Manufacturing?”, Future of Manufacturing Project Evidence Paper, no. 26, London: Foresight, UK Government Office of Science, available at: /at_download/file

OECD (2013), Interconnected Economies: Benefiting from Global Value Chains, Paris: OECD Publishing, available at:

Oliveira F.H.P., Jayme F.G. and Lemos M.B. (2003), “Increasing Returns to Scale and International Diffusion of Technology: An Empirical Study for Brazil (1976-2000)”, UFMG/Cedeplar Texto para Discussão, no. 211, Belo Horizonte: Universidade Federal de Minas Gerais/Centro de Desenvolvimento e Planejamento Regional.

Palma G. (1987), “Structuralism”, in Eatwell J., Milgate M. and Newman P. (eds.), The New Palgrave: A Dictionary of Economics, vol. 4 (pp. 529-531), London: Macmillan.

Palma G. (2005), “Four Sources of ‘De-Industrialization’ and a New Concept of the ‘Dutch Disease’”, in Ocampo J.A. (eds.), Beyond Reforms, Structural Dynamics and Macroeconomic Vulnerability (pp. 71-116), Stanford (CA): Stanford University Press.

Park S.-H. and Chan K. (1989), “A Cross-Country Input-Output Analysis of Intersectoral Relationships between Manufacturing and Services and Their Employment Implications”, World Development, 17 (2), pp. 199-212.

Pasinetti L. (1981), Structural Change and Economic Growth, Cambridge: Cambridge University Press.

Pasinetti L. (1993), Structural Economic Dynamics, Cambridge: Cambridge University Press.

Perez C. and Soete L. (1988), “Catching-up in Technology: Entry Barriers and Windows of Opportunity”, in Dosi G. (ed.), Technical Change and Economic Theory (pp. 458-479), London: Pinter.

Perroux F. (1939), “Pour un approfondissement de la notion de structure”, in Mélanges économiques et sociaux offerts à Emile Witmeur (pp. 271-285), Paris: Librairie du Recueuil Sirey.

Perroux F. (1950), “The Domination Effect and Modern Economic Theory”, Social Research, 17 (2), pp. 188-206.

Perroux F. (1955), “Note on the Concept of Growth Poles”, in McKee D.L., Dean R.D. and Leahy W.H. (eds.), Regional Economics: Theory and Practice (pp. 94-103), New York: The Free Press.

Pieper U. (2003), “Sectoral Regularities of Productivity Growth in Developing Countries: A Kaldorian Interpretation”, Cambridge Journal of Economics, 27 (6), pp. 831-850.

Pilat D. and Wölfl A. (2005), “Measuring the Interaction between Manufacturing and Services”, OECD STI Working Papers, no. 2005/5, Paris: OECD Directorate for Science, Technology and Industry, OECD Publications.

Pinto A. (1965), “Concentración del progreso técnico y de sus frutos en el desarrollo latinoamericano”, El trimestre económico, 32 (125), pp. 3-69.

Pinto A. (1970), “Naturaleza e implicaciones de la “heterogeneidad estructural” de la América Latina”, El trimestre económico, 37 (145), pp. 83-100.

Pinto A. (1971), “El modelo de desarrollo reciente de la América Latina. El Trimestre Económico, 38 (150), pp. 477-498.

Pinto A. (1976), “Notas sobre los estilos de desarrollo en América Latina”, Revista de la CEPAL, 1 (1), pp. 167-214.

Pisano G. and Shih W.C. (2009), “Restoring American Competitiveness”, Harvard Business Review, July-August, pp. 114-125.

Prebisch R. (1949), “Estudo econômico da América Latina”, in Bielschowsky R. (ed.) (2000), Cinqüenta anos de pensamento na Cepal (pp. 137-168), São Paulo: Cepal/Cofecon/Record.

Prebisch R. (1950), The Economic Development of Latin America and its Principal Problems. New York: United Nations.

Prebisch R. (1959), “Commercial Policy in the Underdeveloped Countries”, American Economic Review, 49 (2), pp. 251-273.

Robinson J. (1956), The Accumulation of Capital, London: Palgrave Macmillan.

Rocha I.L. (2011), “Restruturação industrial no Brasil: uma análise da dinâmica comercial e produtiva da economia”. MA thesis in Economics. Campinas: IE/Unicamp.

Rocha I.L., Magacho G.R. and Marconi N. (2014), “Sectoral Capabilities and Productive Structure: An Input-Output Analysis of the Key Sectors of the Brazilian Economy”, paper presented at the 42th Brazilian Economics Meeting (ANPEC-2014).

Rodriguez O. (2006), El estructuralismo latinoamericano, México D.F.: Siglo XXI.

Rodrik D. (2006), “Industrial Development: Stylized Facts and Policies”, in Industrial Development for the 21st Century (pp. 7-28), New York: United Nations.

Romer P.M. (1986), “Increasing Returns and Long-Run Growth”, Journal of Political Economy, 94, pp. 1002-1037.

Romer P.M. (1990), “Endogenous Technological Change”, Journal of Political Economy, 98, pp. 71-102.

Rosenberg N. (1963), “Technological Change in the Machine Tool Industry, 1840-1910”, Journal of Economic History, 23, pp. 414-443.

Rosenstein-Rodan P. (1943), “Problems of Industrialization of Eastern and South-Eastern Europe”, Economic Journal, 53 (210/1), pp. 202-211.

Rosenstein-Rodan P. (1961), “Notes on the Theory of the Big Push”, in Ellis H.S. and Wallich H.C. (eds.), Economic Development in Latin America (pp. 57-73), New York: Macmillan.

Rosenstein-Rodan P. (1984), “Natura Facit Saltum: Analysis of the Disequilibrium Growth Process”, in Meier G.M. and Seers D. (eds.), Pioneers in Development (pp. 207-221), Oxford-New York: Oxford University Press.

Rostow W.W. (1952), The Process of Economic Growth, New York: W.W. Norton and Co.

Rostow W.W. (1978), The World Economy, Austin: University of Texas Press.

Rowthorn R. (1995), “Korea at the Cross-roads”, CBR Working Paper, no. 11, Cambridge: Centre for Business Research, University of Cambridge.

Rowthorn R. and Coutts K. (2004), “Deindustrialization and the Balance of Payments in Advanced Economies”, Cambridge Journal of Economics, 28 (5), pp. 767-790.

Rowthorn R. and Coutts K. (2013a), “De-industrialization and the Balance of Payments in Advanced Economies”, Future of Manufacturing Project Evidence Paper, no. 31, London: Foresight, UK Government Office of Science, available at:

Rowthorn R. and Coutts K. (2013b), “Re-industrialization: A Commentary”, Future of Manufacturing Project Evidence Paper, no. 32, London: Foresight, UK Government Office of Science, available at: /government/uploads/system/uploads/attachment_data/file/283906/ep32-re-industrialisation-commentary.pdf

Rowthorn R. and Wells J. (1987), De-Industrialization and Foreign Trade, Cambridge, Cambridge University Press.

Rynn J. (2010), Manufacturing Green Prosperity: The Power to Rebuild the American Middle Class, Santa Barbara (CA): Praeger Press.

Saxena P.K. and Sharma A. (2014), “Role of Machine Tools Industry in Economic Development”, International Journal of Enhanced Research in Science Technology and Engineering, 3 (5), pp. 188-193.

Schumpeter J.A. (1912), The Theory of Economic Development: An Enquiry into Profits, Capital, Credit, Interest, and the Business Cycle, New Brunswick (NJ): Transaction Publishers, 2004.

Schumpeter J.A. (1942), Capitalism, Socialism and Democracy, London: Routledge, 1994.

Silverberg G. and Verspagen B. (1995), “An Evolutionary Model of Long-Term Cyclical Variations of Catching Up and Falling Behind”, Journal of Evolutionary Economics, 5 (4), pp. 209-227.

Singer H.W. (1950), “The Distribution of Gains between Investing and Borrowing Countries”, American Economic Review, 40 (2), pp. 473-485.

Snowdon B. and Vane H.R (2005), Modern Macroeconomics: Its Origins, Development and Current State. Cheltenham (UK): Edward Elgar.

Solow R.M. (1950), “Review of Labor Productivity Functions in Meat Packing by William H. Nicholls”, Review of Economics and Statistics, 32 (3), pp. 270-272.

Solow R.M. (1956), “A Contribution to the Theory Economic Growth”, Quarterly Journal of Economics, 70 (1), pp. 65-94.

Solow R.M. (1957), “Technical Change and the Aggregate Production Function”, Review of Economics and Statistics, 39 (3), pp. 312-320.

Stehrer R. (2013), “On the Role of BRIC Countries in Providing Global Manufacturing Output”, Future of Manufacturing Project Evidence Paper, no. 34, London: Foresight, UK Government Office of Science, available at:

Street J.H. e James D.D. (1982), “Institutionalism, Structuralism, and Dependency in Latin America”, Journal of Economic Issues, 16 (3), pp. 673-689.

Sunkel O. (1989), “Structuralism, Dependency and Institutionalism: An Exploration of Common Ground and Disparities” Journal of Economic Issues, 23 (2), pp. 519-533.

Swan T.W. (1956), “Economic Growth and Capital Accumulation”, Economic Record, 32 (2), pp. 334-361.

Szirmai A. (2012), “Industrialization as an Engine of Growth in Developing Countries, 1950-2005”, Structural Change and Economic Dynamics, 23 (4), pp. 406-20.

Szirmai A. and Verspagen B. (2011), “Manufacturing and Economic Growth in Developing Countries, 1950-2005”, UNU-MERIT Working Paper Series, no. 2011-069, Maastricht: United Nations University, Maastricht Economic and Social Research Institute on Innovation and Technology, available at:

Tavares M.C. (1972), “Auge e declínio do processo de substituição de importações no Brasil”, in Tavares M.C. (ed.), Da substituição de importações ao capitalismo financeiro. Rio de Janeiro: Zahar.

Thirlwall A.P. (1979), “The Balance of Payments Constraint as an Explanation of International Growth Rate Differences”, Banca Nazionale del Lavoro Quarterly Review, 32 (128), pp. 45-53.

Thirlwall A.P. (2013), Economic Growth in an Open Developing Economy: The Role of Structure and Demand, Cheltenham (UK): Edward Elgar.

Timmer M.P. and Szirmai A. (2000), “Productivity Growth in Asian Manufacturing: The Structural Bonus Hypothesis Examined”, Structural Change and Economic Dynamics, 11 (4), pp. 371-392.

Toner P. (1999), Main Currents in Cumulative Causation: The Dynamics of Growth and Development, London: Macmillan.

Tregenna F. (2007), “Which Sectors Can Be Engines of Growth and Employment in South Africa? An Analysis of Manufacturing and Services”, Paper presented at the UNU-WIDER CIBS Conference on Southern Engines of Global Growth, Helsinki, 7-9 September.

Tregenna F. (2009), “Essays on Sectoral Structure and Growth”, PhD Thesis, University of Cambridge.

UNCTAD (2013), Global Value Chains and Development. Investment and Value Added Trade in the Global Economy, New York and Geneva: United Nations.

Verdoorn P.J. (1949), “On the Factors Determining the Growth of Labour Productivity”, in Pasinetti L. (ed.), Italian Economic Papers, pp. 45-53, Oxford: Oxford University Press.

Verspagen B. (2000), “Growth and Structural Change: Trends, Patterns and Policy Options”, ECIS Working paper series no. 00.08, Eindhoven Center for Innovation Studies.

Vittucci G.M. (2008), “Input-Output Data and Services Outsourcing: A Reply to Dietrich, McCarthy and Anagnostou”, Working Papers, no. 621, Bologna: Università di Bologna.

Wells H. and Thirlwall A.P. (2003), “Testing Kaldor’s Laws Across the Countries of Africa”, African Development Review, 15 (2-3), pp. 89-105.

Young A. (1928), “Increasing Returns and Economic Progress”, Economic Journal, 38 (152), pp. 527-42.



  • There are currently no refbacks.

Copyright (c) 2018 Igor Lopes Rocha

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.



Sponsored by   

ISSN 2037-3643

Reg. Tribunale di Roma n.377/2009 del 19/11/2009